Cytokinetics (NASDAQ:CYTK) EVP Andrew Callos Sells 26,000 Shares of Stock

Cytokinetics, Incorporated (NASDAQ:CYTK) EVP Andrew Callos sold 26,000 shares of the firm’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $61.87, for a total value of $1,608,620.00. Following the transaction, the executive vice president owned 50,440 shares in the company, valued at approximately $3,120,722.80. This trade represents a 34.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Andrew Callos also recently made the following trade(s):

• On Thursday, February 5th, Andrew Callos sold 15,000 shares of Cytokinetics stock. The shares were sold at an average price of $61.93, for a total value of $928,950.00.
• On Monday, February 2nd, Andrew Callos sold 886 shares of Cytokinetics stock. The stock was sold at an average price of $62.10, for a total value of $55,020.60.
• On Monday, January 5th, Andrew Callos sold 15,000 shares of Cytokinetics stock. The stock was sold at an average price of $60.28, for a total value of $904,200.00.
• On Friday, January 2nd, Andrew Callos sold 1,798 shares of Cytokinetics stock. The shares were sold at an average price of $62.62, for a total value of $112,590.76.
• On Monday, December 29th, Andrew Callos sold 1,809 shares of Cytokinetics stock. The shares were sold at an average price of $62.44, for a total transaction of $112,953.96.
• On Monday, December 8th, Andrew Callos sold 1,042 shares of Cytokinetics stock. The stock was sold at an average price of $65.96, for a total transaction of $68,730.32.
• On Friday, December 5th, Andrew Callos sold 52,486 shares of Cytokinetics stock. The shares were sold at an average price of $65.95, for a total transaction of $3,461,451.70.

Cytokinetics Trading Down 2.1%

NASDAQ CYTK traded down $1.28 on Friday, hitting $60.91. 444,430 shares of the company’s stock were exchanged, compared to its average volume of 1,798,550. The stock has a 50-day moving average of $64.01 and a 200-day moving average of $59.27. The stock has a market cap of $7.50 billion, a price-to-earnings ratio of -9.33 and a beta of 0.56. Cytokinetics, Incorporated has a 52 week low of $29.31 and a 52 week high of $70.98.

Cytokinetics (NASDAQ:CYTK) last announced its quarterly earnings data on Tuesday, February 24th. The biopharmaceutical company reported ($1.50) earnings per share for the quarter, missing the consensus estimate of ($1.48) by ($0.02). The company had revenue of $17.76 million during the quarter, compared to analyst estimates of $8.02 million. The firm’s revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.26) EPS. As a group, analysts predict that Cytokinetics, Incorporated will post -5.24 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Needham & Company LLC boosted their price target on shares of Cytokinetics from $84.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. Leerink Partners upped their target price on Cytokinetics from $83.00 to $84.00 and gave the company an “outperform” rating in a report on Thursday, February 26th. Barclays began coverage on Cytokinetics in a report on Wednesday, January 28th. They set an “overweight” rating and a $87.00 price target on the stock. B. Riley Financial boosted their price objective on Cytokinetics from $90.00 to $108.00 and gave the stock a “buy” rating in a research report on Wednesday, January 21st. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Cytokinetics in a research report on Monday, December 22nd. Seventeen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $89.28.

Hedge Funds Weigh In On Cytokinetics

Large investors have recently modified their holdings of the company. Kemnay Advisory Services Inc. purchased a new stake in shares of Cytokinetics in the 4th quarter valued at about $27,000. Kestra Advisory Services LLC bought a new stake in Cytokinetics in the fourth quarter valued at approximately $29,000. TD Waterhouse Canada Inc. purchased a new stake in shares of Cytokinetics during the fourth quarter valued at approximately $32,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Cytokinetics by 46.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 543 shares of the biopharmaceutical company’s stock worth $35,000 after purchasing an additional 171 shares during the last quarter. Finally, Quarry LP purchased a new position in shares of Cytokinetics in the third quarter worth $30,000.

Cytokinetics Company Profile

Cytokinetics, Inc is a late‐stage biopharmaceutical company focused on the discovery and development of novel small‐molecule therapeutics that modulate muscle function. Founded in 1998 and headquartered in South San Francisco, California, the company applies its proprietary insights in muscle biology to address diseases characterized by impaired muscle performance. Its research spans both cardiac and skeletal muscle targets, aiming to deliver innovative medicines for conditions with significant unmet medical need.

The company’s most advanced program, omecamtiv mecarbil, is being evaluated for the treatment of heart failure by enhancing cardiac muscle contractility.